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Delegation by the Board

The Board of Directors may establish Board Committees with clear terms of reference to review specific issues or items. The four standing Board Committees established by the Company are the Audit Committee, Remuneration Committee, Nomination Committee and Finance Committee. These Board Committees also adopted the principles, procedures and arrangements set out in CG Code Provisions A.1.1 to A.1.8 of Appendix 14 to the Listing Rules.

Directors’ Remuneration

A Director is entitled to receive a Directors fee of HK$120,000 for the year ended 31 December 2010. The Directors fee was proposed by the Board on the recommendation of the Remuneration Committee based on the general duties and responsibilities as a Director of the Company and approved by shareholders at the 2010 Annual General Meeting, and payable to each Director as ordinary remuneration.

The annual remunerations received by the chairman and the members of the respective Board Committees are set out below. These remunerations were determined by the Board with reference to the time and effort involved in his/her specific duties and services and the prevailing market conditions. Details of Directorsemoluments are provided in note 13 to the consolidated financial statements.

2010 HK$

2009 HK$

200,000 150,000

200,000 150,000

50,000 40,000

50,000 40,000

30,000 20,000 Nil

30,000 20,000 Nil

Audit Committee

  • Chairman

  • Committee Member

Remuneration Committee

  • Chairman

  • Committee Member

Nomination Committee

  • Chairman

  • Committee Member

Finance Committee

Annual Report 2010

43

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